Jason Gordon, is a trusted industry advisor. He is a Residential Specialist and a great speaker as well. I had the pleasure of attending a seminar where Jason spoke on social media and marketing your services and it was quite informative.
Rates are inching up again today. We are in danger of a mid-day pricing adjustment as we speak (with the market off 15 basis points currently).
This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back nearly 2 years at www.JasonGordon.info whenever desired. Also, make sure to learn about THE TRUTH BEHIND MORTGAGE QUOTES to better understand the relationship between up-front closing costs and mortgage interest rates so you don't get duped by clever advertising campaigns.
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Wednesday 2-13-2013 and will help you understand today's best mortgage rates. If you are a Buyer/Borrower who is still on the fence (or if you are a Real Estate Agent attempting to educate your "on the fence" Buyer), please review these trends and secure an historically low interest rate before it is too late.
The market closed Tuesday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Tuesday's WORSENING netted a change of 6 basis points (bps).
(hint: upward activity is good, downward activity is bad)
The following chart shows a summary of today's activity:
The following chart shows market activity over the past 10 days (hint: green is good, red is bad):
The following chart shows market activity over the past 1 month:
Daily Interest Rate Snapshot (sample of rates from one of the country's largest Lenders...individual pricing will vary based on specific Borrower qualifications): NOTE: This Lender has quoted a 1.00% Origination Fee (1 Point) to accompany this pricing. It bears noting that this chart does not necessarily represent todays best mortgage rates.
Market Commentary (Neil Trenerry):FNMA 30-Year:2.5 Coupon: Open 98.5000 Change -0.40633.0 Coupon: Open 102.6406 Change -0.29693.5 Coupon: Open 104.9825 Change -0.1719
Treasuries:5 Year: Open 99.8750 Change -0.1719 Yield 0.901010 Year: Open 96.4531 Change -0.4219 Yield 2.028030 Year: Open 90.6875 Change -0.9063 Yield 3.2410
Key Economic DataEUR/USD: Open 1.3477 Change 0.0022GBP/USD: Open 1.5583 Change -0.0080USD/JPY: Open 90.6719 Change 0.120Oil: Open 97.80
Key Economic Data:Mortgage MarketIndex: Actual 795.8, Last 849.8.Refinance: Actual 4315.8, Last 4567.6.Purchase: Actual 195.4, Last 215.8.30-yr Rate: Actual 3.75%, Last 3.73%.Import prices for Jan: Actual 0.6%, Consensus 0.7%, Last -0.1%.Export prices for Jan: Actual 0.3%, Consensus 0.3%, Last -0.1%.Retail sales for JanIndex: Actual 0.1%, Consensus 0.1%, Last 0.5%.Ex-autos: Actual 0.2%, Consensus 0.1%, Last 0.3%.Ex-autos/gas/bldg.: Actual 0.1%, Consensus 0.2%, Last 0.6%.7:00: Business inventories for Dec: Consensus 0.3%, Last 0.3%.
Advice:My system is down.But with the auctions not going well, we will probably see rates inch up.My position on MBS changes to Neutral.
Trusted Industry Advisor
The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason E Gordon in an effort to provide transparency regarding true mortgage rate activity and market guidance to consumers and professionals interested in this activity.
As a Certified Mortgage Planning Specialist (CMPS) Certified Distressed Property Expert (CDPE) and Certified Mortgage Coach (CMC), Jason E Gordon utilizes his advanced training to examine a prospective Client's complete financial picture, while carefully listening to their overall goals. If it is mutually agreed that a new loan makes sense to pursue, Jason strives to make the entire loan process as seamless as possible. He truly believes that providing open communication and patient educational guidance to his Clients and Business Alliances has been a pivotal component to building his business, while enhancing his reputation in the Mortgage Industry as a Trusted Advisor. Visit www.jasongordon.net or www.ApprovingSD.com or more information.
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